Tag: Alabama homeowners insurance

Work group seeks to resolve problems with Alabama’s homeowners insurance market

Nordstrom
Alabama homeowners insurance

Alabama continues to struggle with the impact of Hurricane Katrina Many homeowners in Alabama are still struggling to recover from the impact of Hurricane Katrina, some 10 years after the disaster struck. These consumers are facing higher homeowners insurance premiums, as insurers have had to raise rates in order to recover from financial losses associated with Hurricane Katrina. In order to resolve this issue, a new organization has been formed that will seek out a solution to costly homeowners insurance coverage for those living in coastal communities. New work group…

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Alabama launches work group to investigate the homeowners insurance sector

Logan B.
Alabama homeowners insurance

Alabama governor introduces work group that will examine the insurance market along the Gulf Coast Alabama Governor Robert Bentley has appointed a work group that is meant to study the homeowners insurance business along the Gulf Coast. In recent years, homeowners insurance premiums in the area have been rising at an astonishing rate, which is placing property owners under some financial strain. The work group will examine the market and determine what can be done to improve the insurance sector and reduce the strain on consumers along the Gulf Coast.…

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Homeowners insurance is depreciating in value in Alabama

Logan B.
Alabama homeowners insurance

Insurance agents are worried about the value of policy throughout the state Insurance agents in Alabama have begun expressing concerns regarding the depreciation in the value of policies in the state’s wind pool. Alabama insurance agents are beginning to suggest that consumers are beginning to gravitate toward policies that are inexpensive, but have little to no ability to cover the costs associated with recovering from a major natural disaster. As such, consumers are facing a significant degree of financial risk which may also be being felt by insurance companies. Lack…

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Cheap homeowners insurance is risky on Alabama coasts

H. Cutner
coastal flood homeowners insurance

While these options may be out there for many property owners, many consumers are unaware of the possible shortfalls. When it comes to nearly any kind of product, including homeowners insurance policies, just because it is cheap, it doesn’t necessarily mean that it is providing a good value and it doesn’t mean that it is worth the money. This is a problem being increasingly discovered by property insurance customers in Alabama. Unfortunately, all too often, customers feel that the best opportunity in homeowners insurance is the one that will come…

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Those with bad credit pay more for homeowners insurance

Marc
homeowners mortgage insurance credit score

Study highlights the financial disparity between those with poor credit and those with good credit A new study from InsuranceQuotes.com shows that credit score is having a major impact on the out-of-pockets costs of homeowners insurance in Alabama. Credit is one of the foundational tools that the insurance industry uses to assess risks in any given market. Credit is a gauge of financial risk, allowing the financial service industry to properly assess liability in any given scenario. Poor credit represents a significant risk, which is why those with a low…

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